Minnesota, United States [RenewableEnergyWorld.com] Sage Electrochromics Inc., a provider of electrochromic smart window products for buildings, announced that it has closed a US $20 million investment round. Good Energies led the funding, with additional investments from Applied Ventures LLC (the venture capital arm of Applied Materials Inc.), NV Bekaert SA and Bekaert Corporation.
Sage’s patented technology, SageGlass, provides window and skylight systems that can be dynamically darkened or lightened to provide optimal daylight levels and clear views while sharply cutting air conditioning energy use. The company said that the funding will enable it to expand the scope of its work in international markets, new product and business development, manufacturing and sales and marketing initiatives.
“We are excited to continue working with these firms who have long and successful track records of investing in renewable energy and energy efficiency companies, and can lend their respective expertise to helping us achieve our business goals,” said John Van Dine, CEO and Chairman of the Board of Sage. “I am excited to lead Sage as it looks to expand its capacity to serve international markets and maintain our pace of growth.”